FY2024 EPS Estimates for Lazard Decreased by Seaport Res Ptn

Lazard, Inc. (NYSE:LAZ) – Stock analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of Lazard in a research note issued on Thursday, October 31st. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings of $2.30 per share for the year, down from their previous estimate of $2.40. The consensus estimate for Lazard’s current full-year earnings is $2.40 per share. Seaport Res Ptn also issued estimates for Lazard’s Q4 2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.96 EPS and Q4 2025 earnings at $1.60 EPS.

Other research analysts have also issued reports about the company. StockNews.com lowered Lazard from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley upped their target price on Lazard from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods upped their target price on Lazard from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company began coverage on Lazard in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $51.00 target price for the company. Finally, JMP Securities increased their price objective on Lazard from $55.00 to $59.00 and gave the stock a “market outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Lazard has a consensus rating of “Hold” and a consensus price target of $53.00.

Lazard Stock Down 1.6 %

Shares of Lazard stock opened at $52.45 on Monday. Lazard has a 12-month low of $25.82 and a 12-month high of $54.72. The stock has a market capitalization of $5.91 billion, a P/E ratio of 20.90 and a beta of 1.37. The stock has a 50 day moving average price of $50.13 and a two-hundred day moving average price of $44.52. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 3.60.

Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.03). The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $644.22 million. Lazard had a net margin of 8.28% and a return on equity of 46.55%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS.

Institutional Trading of Lazard

A number of institutional investors have recently modified their holdings of LAZ. Allspring Global Investments Holdings LLC bought a new stake in shares of Lazard during the 1st quarter worth $25,000. Richardson Financial Services Inc. lifted its position in shares of Lazard by 1,125.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock worth $28,000 after buying an additional 675 shares during the last quarter. Continuum Advisory LLC lifted its position in shares of Lazard by 58.9% during the 2nd quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock worth $34,000 after buying an additional 330 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Lazard during the 3rd quarter worth $50,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Lazard during the 2nd quarter worth $87,000. 54.80% of the stock is currently owned by institutional investors.

Insider Activity at Lazard

In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.02, for a total value of $4,338,134.56. Following the completion of the sale, the chairman now directly owns 1,640,995 shares in the company, valued at $82,082,569.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Kenneth M. Jacobs sold 86,728 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.02, for a total transaction of $4,338,134.56. Following the completion of the sale, the chairman now directly owns 1,640,995 shares in the company, valued at approximately $82,082,569.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kenneth M. Jacobs sold 1,999 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.01, for a total value of $99,969.99. Following the sale, the chairman now owns 1,727,723 shares of the company’s stock, valued at approximately $86,403,427.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,497 shares of company stock worth $8,658,086 in the last ninety days. 3.86% of the stock is owned by company insiders.

Lazard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.50 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 3.81%. Lazard’s dividend payout ratio (DPR) is presently 79.68%.

Lazard Company Profile

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.